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A bit of a strange cap raise today? Call it 10 mil left in the...

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Seoultrader

200 Posts.

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16/03/23

22:23

Post #: 66812415
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Originally posted by templargin: ↑

Record performance for three consecutive quarters and eight out of last nine months in a row still does not seem to deserve a single comment. Tough crowd!

I expect company to end FY2023 with $500 million in originations (in Q2 it was $112 million). If we assume 2.5% revenue margin and 1% (of originations) cost of capital we will finish the year with $7.5 million operational cash which is the amount to keeps the lights on. Company needs about a billion in originations in order to start seeing meaning cash falling to the bottom line. Will they get there and will they get there without a need to raise money? I think so because BTN has $11 million in cash and they just started scratching the surface with MYOB customers.

It is, of course, a risky bet. But it is also a founder-led illiquid nanocap with tight register and product that seems to be killing it. I hope to not see an end to this record streak for a while.

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A bit of a strange cap raise today?

Call it 10 mil left in the bank…reason for a raise seems rather vague/non descriptive.

BTN Price at posting: 17.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 5.1¢		Change 0.000(0.00%)		Mkt cap ! $10.10M

Open	High	Low	Value	Volume
5.1¢	5.1¢	5.1¢	$1.064K	20.86K

Buyers (Bids)

No.	Vol.	Price($)
1	8745	5.1¢

Sellers (Offers)

Price($)	Vol.	No.
8.5¢	101140	2

View Market Depth

No.	Vol.	Price($)
1	8745	0.051
1	100000	0.050
1	20206	0.049
2	31233	0.048
1	100000	0.047

Price($)	Vol.	No.
0.085	101140	2
0.088	11371	1
0.000	0	0
0.000	0	0
0.000	0	0

Last trade - 15.42pm 16/05/2024 (20 minute delay)

BTN (ASX) Chart